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Topic: btt - page 70. (Read 407332 times)

newbie
Activity: 10
Merit: 0
July 16, 2013, 11:35:59 PM
I was going to ask about when new equipment would be acquired. Clearly this is something that you are actively working on while you are away from the boards.

Thank you for your continued efforts on this "little startup". Can't wait until you tell us that you are no longer living in a home, but a mining facility (or has that happened already?). Grin
hero member
Activity: 546
Merit: 500
July 16, 2013, 11:32:30 PM
Hi creativex,

I don't know how much of a hurry you are in to have this motion passed, but I didn't receive an email notifying me of the motion, and only noticed it because I check btct.co and this thread reasonably frequently.  If you'd like to get the attention of some of the less active shareholders, I might consider putting a notification on btct.  (Hopefully, this is something burnside will make automatic in the near future.)

-gnomesick

same here, I see the motion is available on BTCT.CO but I definitely did not get an email. I had to look close too, because all these mining companies post motions and they all have similar names

and whoever bought the X shares I placed on the ask wall earlier today, would have moved the order book that much higher. so. think about that.
newbie
Activity: 33
Merit: 0
July 16, 2013, 11:23:45 PM
Hi creativex,

I don't know how much of a hurry you are in to have this motion passed, but I didn't receive an email notifying me of the motion, and only noticed it because I check btct.co and this thread reasonably frequently.  If you'd like to get the attention of some of the less active shareholders, I might consider putting a notification on btct.  (Hopefully, this is something burnside will make automatic in the near future.)

-gnomesick
full member
Activity: 251
Merit: 100
Du hast
July 16, 2013, 10:00:18 PM
why don't you just remotely administer the rig from the datacenter? point it at your pool

you already are running out of infrastructure for machines as is correct?

Hi stslimited. The only limiting factor has predictably been power and cooling. I've been addressing the problem of power by running several new circuits over the past week and I've added two additional AC units to cool our mining gear. I believe we have the infrastructure in place to handle this expansion. I'm told the minirig in it's current form has dual 1500w PSUs which should not be a problem. Keeping it cool is my only concern, but additional cooling can be added quickly if necessary.

Cheers.  

Something to consider if you are in an area with cool/cold winters is running the AC during these times, to have the compressor modified to stop the fan at times, if they run 24/7 they will freeze in the winter
sr. member
Activity: 434
Merit: 250
July 16, 2013, 09:53:29 PM
why don't you just remotely administer the rig from the datacenter? point it at your pool

you already are running out of infrastructure for machines as is correct?

Hi stslimited. The only limiting factor has predictably been power and cooling. I've been addressing the problem of power by running several new circuits over the past week and I've added two additional AC units to cool our mining gear. I believe we have the infrastructure in place to handle this expansion. I'm told the minirig in it's current form has dual 1500w PSUs which should not be a problem. Keeping it cool is my only concern, but additional cooling can be added quickly if necessary.

Cheers.  
hero member
Activity: 546
Merit: 500
July 16, 2013, 09:35:00 PM
why don't you just remotely administer the rig from the datacenter? point it at your pool

you already are running out of infrastructure for machines as is correct?

His 20% stake in the company is to pay the costs of running the equipment, if he feels he can self host for less than a data center, I see nothing wrong.  I know I pay $1,000/mo per cabinet and 20A of juice in several data centers.

got it
full member
Activity: 251
Merit: 100
Du hast
July 16, 2013, 09:32:15 PM
why don't you just remotely administer the rig from the datacenter? point it at your pool

you already are running out of infrastructure for machines as is correct?

His 20% stake in the company is to pay the costs of running the equipment, if he feels he can self host for less than a data center, I see nothing wrong.  I know I pay $1,000/mo per cabinet and 20A of juice in several data centers.
hero member
Activity: 546
Merit: 500
July 16, 2013, 09:28:38 PM
why don't you just remotely administer the rig from the datacenter? point it at your pool

you already are running out of infrastructure for machines as is correct?




I am so mad I didn't get this notification from BTCT.CO in my email, I sold 1/4th of my position earlier today due to questions about difficulty and expansion
sr. member
Activity: 434
Merit: 250
July 16, 2013, 09:12:08 PM
**Important Announcement**

bASIC-Mining virtual shareholders,

I'd like to get shareholder approval to fund the purchase of an immediately available BFL minirig with shares. The purchase price is 1300 shares payable when I take physical possession of the unit. An additional 325 shares would be issued to me at that time as per bASIC-Mining's contract. Dividends on these shares will offset the significant expense involved with hosting such a powerful piece of mining equipment. I believe this to be a good move for bASIC-Mining as it would increase our hashrate by over 100% while adding only 1625 outstanding shares(+3.25%). As this is a time sensitive negotiation I will be posting a motion within the hour.

Cheers. 

I'm impressed. You're always ready with another sweet surprise. Smiley

Just to confirm:
It's the 500 GH/s rig, right? What is the ETA after the motion has passed?

Hi dexX7. Correct...500Gh/s. The current owner says it's actually doing 480Gh/s currently. ETA would be the time it takes me to retrieve the unit from the data center it's currently hosted at and return. I'd prefer to  transport the unit myself rather than ship it. Looks like a 22hr drive or a 3hr flight + 11hr drive in a fun rental car. In short I believe I can make this happen before this weekend if the motion passes quickly.

Cheers.
legendary
Activity: 1106
Merit: 1026
July 16, 2013, 08:44:56 PM
**Important Announcement**

bASIC-Mining virtual shareholders,

I'd like to get shareholder approval to fund the purchase of an immediately available BFL minirig with shares. The purchase price is 1300 shares payable when I take physical possession of the unit. An additional 325 shares would be issued to me at that time as per bASIC-Mining's contract. Dividends on these shares will offset the significant expense involved with hosting such a powerful piece of mining equipment. I believe this to be a good move for bASIC-Mining as it would increase our hashrate by over 100% while adding only 1625 outstanding shares(+3.25%). As this is a time sensitive negotiation I will be posting a motion within the hour.

Cheers. 

I'm impressed. You're always ready with another sweet surprise. Smiley

Just to confirm:
It's the 500 GH/s rig, right? What is the ETA after the motion has passed?
full member
Activity: 238
Merit: 100
July 16, 2013, 08:36:26 PM
What price point do you plan to put the additional shares up at?

If I read it right, I believe the buyer is being paid in 1300 shares.

Oh yeah now that I re-read it you definitely seem to be right.
sr. member
Activity: 560
Merit: 250
July 16, 2013, 08:35:40 PM
What price point do you plan to put the additional shares up at?

If I read it right, I believe the buyer would be paid in 1300 shares.
full member
Activity: 238
Merit: 100
July 16, 2013, 08:33:36 PM
What price point do you plan to put the additional shares up at?
sr. member
Activity: 560
Merit: 250
July 16, 2013, 08:32:10 PM
Definitely yes.  Small expenditure of capital (no actual bitcoins paid from the investment fund, correct?), and a huge gain in immediate hashing output.  This is exciting Smiley
legendary
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
July 16, 2013, 08:31:31 PM
yes!
hero member
Activity: 1008
Merit: 537
July 16, 2013, 08:28:58 PM
I think this is smart. The share prices are set by the market and it seems that you have the trust of your shareholders. Investing this value into a profitable business is a good way to run your company. My vote is yes.
sr. member
Activity: 420
Merit: 250
July 16, 2013, 08:24:29 PM
**Important Announcement**

bASIC-Mining virtual shareholders,

I'd like to get shareholder approval to fund the purchase of an immediately available BFL minirig with shares. The purchase price is 1300 shares payable when I take physical possession of the unit. An additional 325 shares would be issued to me at that time as per bASIC-Mining's contract. Dividends on these shares will offset the significant expense involved with hosting such a powerful piece of mining equipment. I believe this to be a good move for bASIC-Mining as it would increase our hashrate by over 100% while adding only 1625 outstanding shares(+3.25%). As this is a time sensitive negotiation I will be posting a motion within the hour.

Cheers. 

Hot.
sr. member
Activity: 434
Merit: 250
July 16, 2013, 08:07:56 PM
**Important Announcement**

bASIC-Mining virtual shareholders,

I'd like to get shareholder approval to fund the purchase of an immediately available BFL minirig with shares. The purchase price is 1300 shares payable when I take physical possession of the unit. An additional 325 shares would be issued to me at that time as per bASIC-Mining's contract. Dividends on these shares will offset the significant expense involved with hosting such a powerful piece of mining equipment. I believe this to be a good move for bASIC-Mining as it would increase our hashrate by over 100% while adding only 1625 outstanding shares(+3.25%). As this is a time sensitive negotiation I will be posting a motion within the hour.

Cheers. 
sr. member
Activity: 434
Merit: 250
July 16, 2013, 01:10:33 PM
Ordered some high performance fans for the singles and Avalons. I've already replaced some of the fans on the Avalons, but I need more deltas and 90mm fans meh...who keeps them around? Glad I'm in the process of moving everything to a dedicated "cold room", those deltas are LOUD.

Order Summary

Sales Order Number: 17421xxxx
Sales Order Date:        7/16/2013 9:55:58 AM
11 x Delta AFB1212GHE-CF00 120mm Case cooler

10 x bgears b-Blaster 90 90mm Case Fan

Total Amount:   3.63181585

Cheers.
hero member
Activity: 546
Merit: 500
July 16, 2013, 01:12:47 AM
that spread though

always curious to watch the share prices when there spreads that wide
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